Senators offer plan to keep Postal Service solvent

RANDOLPH E. SCHMID, Associated Press

Updated 04:52 p.m., Wednesday, November 2, 2011

WASHINGTON (AP) — Senators announced a bipartisan plan Wednesday to help keep the financially ailing Postal Service solvent and continue six-day mail delivery for at least two more years.

The proposal would lift the agency "from the brink of bankruptcy," said Sen. Joe Lieberman, chairman of theSenate Homeland and Governmental Affairs Committee.

The Postal Service lost $8 billion last year and could report even larger losses when its 2011 budget year report comes out in mid-November.

"We're not crying wolf here" about the agency, said Sen. Susan Collins of Maine, the top Republican on the committee.

Seattle Post Intelligence